Tuesday
January 31
2017

5 Reasons Why India’s Aadhaar Journey Since 2014 Is Incredible

Numbers speak. In the case of Aadhaar — India’s biometric-based unique identification scheme for all citizens — the numbers are massive. What started merely as a unique identification programme six and a half years ago graduated to becoming a tool for public service delivery reforms in the second phase and for de-duplication, e-KYC and direct benefit transfer in the third phase. In its latest avatar, Aadhaar is poised to truly change the way Indians have done financial transactions until now.

A UN Report on World Social Situation, 2016 also recognised Aadhaar as a tool of development with “tremendous potential to foster inclusion by giving all people, including the poorest and most marginalised, an official identity” and a wonderful “critical step in enabling fairer access of people to government benefits and services”. Launched first by then Prime Minister Manmohan Singh in April 2010, Aadhaar’s role transformed manifold after the new government led by Prime Minister Narendra Modi took measures to use Aadhaar for social and financial inclusion. The government is taking steps to use Aadhaar as an access point for financial transactions for citizens across the country.

Here are five pointers that show Aadhaar’s journey in India since 2014 has been incredible:

a) 111+ crore out of 125 crore+ population in Aadhaar net

In 2014, the total number of people having Aadhaar number was 63.22 crore. In the two years, Aadhaar generation has crossed over 111 crore. As per Census 2011, over 99% adult population above the age of 18 have been assigned Aadhaar numbers.

Source: The Financial Express (link opens in a new window)

Categories
Technology
Tags
digital payments, financial inclusion, fintech